Wake Forest Baptist Health will increase its minimum wage from $12.50 to $15 per hour in 2021, the health care system said.
The following letter was sent to staff, providers and faculty on Wednesday:
Thank you for your dedication to our patients and the communities we serve. We are pleased to announce that in 2021, Wake Forest Baptist Health is making a significant investment of more than $23 million in market adjustments and pay alignment initiatives for approximately 12,000 teammates. This is part of a broader strategy across the new Atrium Health enterprise to competitively position compensation to attract and retain top talent. This does not affect compensation for faculty, physicians, APPs, residents or leaders at director level and above (AD and EX salary plans).
The 2021 market adjustments and pay alignments include the following:
· We will fulfill our commitment made in 2018 to increase minimum wage from $12.50 to $15.00, and 7,500 teammates in many pay grades will increase to the new minimum or 2%, whichever is greater.
· As communicated in December, eligible nurses received experience-based increases in January after 2.5% merits; and in April 2021, the minimum rate for Staff Nurse 2 will increase to $28 per hour. Pay grades in the Nursing Professional salary plan will receive incremental increases, which means 4,500 nurses will increase to the new minimums or $1/hour, whichever is greater.
· All staff salary ranges will be adjusted, and all eligible staff below the new range minimums will be increased to the new minimum rates. High Point Medical Center staff jobs that were not yet mapped to Wake Forest Baptist will align to this new structure, with increases for eligible staff to the new minimum rates.
· Evening, night and weekend shift differential rates will be aligned for market competitiveness across the Wake Forest Baptist Health system. This provides additional and equitable compensation for many of our staff who work evening, night and/or weekend shifts.
Market adjustments effective dates:
· The monthly paid staff changes will be effective on Thursday, April 1, 2021, and included in paychecks on Monday, April 26.
· Biweekly increases will be effective on Sunday, April 11, 2021, and included in paychecks on Friday, April 30.
· The shift differential rate changes will be effective on Sunday, April 25, 2021, and included in paychecks on Friday, May 14.
Leaders will be able to share detailed compensation increases with eligible teammates beginning mid-April.
There are even more investments yet to come for Wake Forest Baptist Health and Wake Forest School of Medicine as the next-generation academic core of the new Atrium Health. This will allow us to advance our education, research and innovation programs and further elevate our national reputation.
We’re proud to continue to invest in our teammates. These pay initiatives are another way to recognize the important contributions of our dedicated professionals and allow Wake Forest Baptist Health to continue to provide the best care for all.
Thank you – you are at the heart of who we are, what we do and who we will become.